Hi experts, I have one query regarding income from house property.
I have one person who has two houses in the same city, both properties having secured bank loans, and both EMI paid by the same person.
Property 1: Purchased on 26/01/2014 - 25,00,000 and EMI 18,000/- (total principle paid in year 24,000 and 192,000 paid in respect of interest)
Property 2: Purchased on 28/08/2022 - 65,00,000 and EMI 48,000/- (total principle paid in year 60,000 and 516,000 paid in respect of interest).
Now questions are:
1) Say, e.g. property 1 or 2 considers SOP, than other property interest can he be claimed as DLOP?
2) if yes, then how much
3) if not then how do you calculate his final house property income?
CAclubindia
